Car manufacturer Jaguar Land Rover will launch a vehicle-sharing service that will rival Uber.
The service, named InMotion, will provide “affordable” valet parking, insurance products and car-sharing, and will be the first of its kind created in Britain.
The division is working with ex-Google employees providing an answer to the fast decline of car ownership in urban areas.
The budget for the scheme could run into hundreds of millions of pounds if it produces technology that needs investment.
The car share market is rapidly growing, with General Motors purchasing driverless technology group Cruise for more than $1bn and the firm also bought a stake in US taxi application, Lyft.
GM isn’t the only car manufacturer entering the market, Peugeot Citroen revealed it was considering “mobility services” as a way of boosting profits.
The car-share service arm of JLR will be based in London, where it will begin researching technologies and potential partners.
Adrian Hallmark, strategy director at JLR told the FT: “There will be some things we want to own, and others we want a small stake in.”
To date, InMotion has trialled 10 concepts and has several waiting to be rolled out in the near future.
JLR said in statement that car manufacturing would remain the company’s main focus.